First National Trust Co Sells 1,124 Shares of Pioneer Natural Resources (NYSE:PXD)

First National Trust Co cut its position in Pioneer Natural Resources (NYSE:PXD) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,539 shares of the oil and gas development company’s stock after selling 1,124 shares during the quarter. First National Trust Co’s holdings in Pioneer Natural Resources were worth $5,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Hartford Financial Management Inc. raised its stake in shares of Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 44 shares during the period. BluePath Capital Management LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $29,000. Carmel Capital Partners LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp raised its stake in shares of Pioneer Natural Resources by 85.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Finally, OLD Second National Bank of Aurora bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $34,000. 80.57% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Price Performance

PXD stock remained flat at $269.62 during trading on Friday. The stock has a market capitalization of $62.99 billion, a P/E ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company’s 50 day moving average price is $258.20 and its 200 day moving average price is $240.69. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.91 earnings per share. On average, analysts forecast that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a yield of 3.80%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Insider Activity at Pioneer Natural Resources

In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock worth $9,067,373 in the last ninety days. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

PXD has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. StockNews.com assumed coverage on Pioneer Natural Resources in a research note on Monday, April 29th. They set a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Susquehanna upped their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, Truist Financial upped their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.